Does your "flab" look about the same now as it did a year and a half ago?
Initially, I would say that you could probably cut some calories and start to lean down. But it seems like you aren't eating very much to begin with, particularly with as much activity as you partake in. Do you lift 5 days in a row?
I, personally, would move away from the slim fast shakes. I've never liked to quantities/type of calories in them.
Another option, instead of trying to lose fat, would be to really aim to add some muscle. Lift as heavy as you can, take some more days off, cut back (maybe even stop?) the cardio, and eat a little more. If you could put on 10 lbs of lean muscle, I bet the flab wouldn't stand out to you as much as it does now.
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